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DrugMax Acquires Leading Medical Office Based Oncology Pharmacy in ... - PR Newswire (press release)

Acquisition of Central Florida Pharmacy Marks Continued Progress in Pharmacy Growth Strategy FARMINGTON, Conn., Jan. 30 /PRNewswire-FirstCall/ -- DrugMax, Inc. (Nasdaq: DMAX) today announced that, as part of the Company's focus to grow its specialty medical office based pharmacy business, it has acquired substantially all the assets of Central Florida Pharmacy, One of the leading oncology pharmacies in Florida, for less than $500,000. The pharmacy, which had $6.7 million in revenue and approximately $580,000 in EBITDA in 2005, provides oncology and pain related specialty Pharmaceuticals, including products and therapies requiring infusion compounding, to patients and physicians. The pharmacy is located in a large medical office building in Orlando, Florida on the same campus and nearby to another DrugMax pharmacy operated under the Familymeds Brand. This pharmacy will constitute the Company's sixth specialty medical based pharmacy in greater Orlando. The Company is currently working with the landlord to secure a permanent lease for the newly acquired business, but retains the ability to transfer the operation to its nearby Familymeds pharmacy. "We are excited to have entered a new period of pharmacy growth for DrugMax," said Ed Mercadante, R.Ph., DrugMax Chairman and Chief Executive Officer. "We believe this initial acquisition will be - More available

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